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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
DATE OF REPORT: JULY 27, 2000
(Date of earliest event reported)
ELTRAX SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
MINNESOTA COMMISSION FILE NO. 0-22190 41-1484525
(State of incorporation) (IRS Employer I.D. No.)
400 GALLERIA PARKWAY
SUITE 300
ATLANTA, GA 30339
(Address of principal executive offices)
(770) 612-3500
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
(a)
On July 27, 2000, Eltrax Systems, Inc. issued a press release
announcing (i) its preliminary second quarter operating results, and (ii) that
it would begin reporting its hospitality segment as discontinued operations in
anticipation of that group's sale or other disposition. A copy of the press
release is attached as Exhibit 99.1 and incorporated by reference herein.
(b)
On July 27, 2000, Eltrax Systems, Inc. issued a press release
announcing (i) that it has closed a sale of $7 million of 5% convertible senior
subordinated notes to an institutional investor, (ii) that, effective September
1, 2000, Steve Odom, Juliet Reising and James Logsdon have been elected as the
chief executive officer, chief financial officer and chief operating officer of
Eltrax, respectively, (iii) that it has signed a letter of intent to sell its
domestic lodging systems business and its international operations, which are
components of the Eltrax hospitality group, and (iv) that it and Cereus
Technology Partners, Inc. have agreed to amend the terms of their
previously-announced proposed merger. A copy of the press release is attached as
Exhibit 99.2 and incorporated by reference herein.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
<TABLE>
<CAPTION>
Exhibit Filed
Number Description Herewith
------ ----------- --------
<S> <C> <C>
99.1 Eltrax Systems, Inc. press release dated July 27, 2000 X
99.2 Eltrax Systems, Inc. press release dated July 27, 2000 X
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ELTRAX SYSTEMS, INC.,
a Minnesota corporation
Date: July 28, 2000 By: /s/ William A. Fielder, III
-----------------------------------------
William A. Fielder, III
Its: Chief Financial Officer
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit Filed
Number Description Herewith
------ ----------- --------
<S> <C> <C>
99.1 Eltrax Systems, Inc. press release dated July 27, 2000 X
99.2 Eltrax Systems, Inc. press release dated July 27, 2000 X
</TABLE>
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